The Travel Insurance Act establishes a comprehensive legal framework for the sale of travel insurance in New Jersey, specifically targeting policies sold to state residents. It clarifies that while existing insurance laws remain applicable, the provisions of this Act will take precedence over any conflicting general laws. Key definitions are introduced, including "travel insurance," "travel assistance services," and "travel retailer." The Act outlines licensing requirements for limited lines travel insurance producers and travel retailers, mandates premium tax payments by insurers, and requires clear consumer disclosures regarding travel protection plans. It also emphasizes compliance with existing regulations and establishes penalties for unfair trade practices in travel insurance sales.

Additionally, the Act mandates that travel insurance policies with pre-existing condition exclusions must inform consumers about these exclusions prior to purchase and in fulfillment materials. It allows policyholders to cancel their insurance for a full refund within specified timeframes based on the delivery of fulfillment materials. The Act prohibits unfair marketing practices, such as advertising blanket travel insurance as free, and requires appropriate licensing for travel administrators. It classifies travel insurance under an inland marine line while permitting certain coverages under accident and health lines. The Commissioner is empowered to adopt regulations for implementation, with the Act taking effect 90 days after enactment, ultimately aiming to enhance consumer protection and clarity in the travel insurance market.